Archive | Industries RSS feed for this section

Local value addition of RMG reaches ‘optimal’ level

IMG_1795

Local value addition of the Bangladesh’s readymade garments (RMG) industry has reached its ‘optimal level’, according to the latest statistics published by the Central Bank of the country Bangladesh Bank. It’s quarterly review on RMG sector shows that local value addition of the industry was 73.12 per cent in fiscal year (FY) 2008-09, which rose to […]

Read More Comments Off on Local value addition of RMG reaches ‘optimal’ level

Bangladesh Govt. Cash Subsidies for Exporters in FY 2015-16

The government of Bangladesh has released cash incentives amounting to BDT 8.75 billion for disbursement among major exporters for fiscal year (FY) 2015-16. This amount of subsidies will be distributed among the business communities, which export goods, meaning they will still make profit if they even export goods at it’s production costs. 35 billion total annual allocation […]

Read More Comments Off on Bangladesh Govt. Cash Subsidies for Exporters in FY 2015-16

Bangladesh Export earnings target falls short by 6.0 pc

Bangladesh’s overall export earnings recorded a marginal growth during the July-May period of current fiscal year 2014-15. The export receipts stood at $28.14 billion showing a 2.83 per cent growth during the period though it fell short of target by 6.01 per cent, according to Export Promotion Bureau (EPB) data released Monday. However, the single […]

Read More Comments Off on Bangladesh Export earnings target falls short by 6.0 pc

300 new garment factories spring up in 2 yrs as 450 down shutters

More than 300 new apparel factories were set up in the last two years while 450 factories were closed down in Bangladesh. Of the total new factories, new entrepreneurs established some 137 while the rest emerged as part of expansion of the existing ones, said the association of the readymade garment (RMG) in Bangladesh. It said that non-compliance, western […]

Read More Comments Off on 300 new garment factories spring up in 2 yrs as 450 down shutters

Beximco’s severe cash crunch may be eased by Sonali Bank

Bangladesh’s state-owned Sonali Bank (SB) has decided to reschedule Tk 982.44 crore of Bangladesh Export Import Company (BEXIMCO) Limited’s loans and extend the repayment period to 2026 to help the conglomerate ride out its severe cash crunch and continue commercial operations. Beximco’s loan rescheduling proposal was approved in entirety last week by the Sonali bank’s […]

Read More Comments Off on Beximco’s severe cash crunch may be eased by Sonali Bank

Bangladesh’s export in the USA declined by 8.42 pct

Bangladesh’s export in the USA declined by 8.42 per cent during the first quarter (July-Sept) of the current fiscal (FY), 2014-15, mainly due to poor performance of major exportable items to the US market, reports UNB. In the same period China, India and Viet Nam increased market share in the USA. Bangladesh exports to the […]

Read More Comments Off on Bangladesh’s export in the USA declined by 8.42 pct

RMG shipments to new markets drop

Bangladesh’s apparel exports to some potential non-traditional markets declined during the first quarter of the current fiscal year, thereby undermining the move to diversify the country’s export base, sources said. Exports to Turkey and Mexico marked drastic drop by 37.54 per cent and 17.69 per cent respectively while to Japan fell by 0.44 per cent. […]

Read More Comments Off on RMG shipments to new markets drop

GMG not paying EUR 15 Mio in dues

Dhaka, Jul 23 (bangladeshinside.com) — An international aircraft leasing firm and Civil Aviation Authority of Bangladesh have filed eight cases against GMG Airlines in connection with around EU 15 million the carrier owes them, reports the Daily Star. The Civil Aviation Authority of Bangladesh (CAAB) lodged seven suits with lower courts while the Los Angeles-based International Lease […]

Read More Comments Off on GMG not paying EUR 15 Mio in dues

NBR directs banks to freeze GMG accounts

Dhaka, Jan 7 (bangladeshinside.com)—The National Board of Revenue (NBR) has directed all banks to freeze accounts of the country’s oldest private carrier GMG Airlines for not paying travel taxes worth BDT 210 million (approx. EUR 2.0 million) since 2005, reports The Financial Express in Bangladesh. The tax authority recently sent letters to 12 commercial banks […]

Read More Comments Off on NBR directs banks to freeze GMG accounts

BDT 26.38 billion Loan Scam

The Sonali Bank will relieve three of its senior officials of their duties for lending BDT 26.38 billion (EUR 263.8 million) to a little-known group beyond their authority, reports the Daily Star. The board of the state-run commercial bank at a special meeting last night decided to take the action to comply with a Bangladesh […]

Read More Comments Off on BDT 26.38 billion Loan Scam

Korean Export Processing Zone at serious risk

korean-epz-01

Instead of handing over the Korean Export Processing Zone (KEPZ) to the investor, the government of Bangladesh plans to take back […]

Dhaka needs to remove its rocky anti-FDI atmosphere

Korean Ambassador to Bangladesh Lee Yun-young

Korean Ambassador to Bangladesh Mr. Lee Yun-young has said Bangladesh should come out from protectionism and open up its market […]

‘Welfare Associations’ to negotiate for rights at Bangladesh EPZ

The Government of Bangladesh today approved, in principle, draft of a labour law for Export Processing Zones (EPZ) with the provision […]

Return of GSP seems far off – a lot more must be done

Bangladesh’s progress in implementation of the National Tripartite Plan of Action on Fire Safety and Structural Integrity (the Action Plan) which provides a […]

Bangladesh halts shutdown of “unsafe” factories

The Bangladeshi government is refusing to shut down garment factories declared unsafe, following a row with independent inspectors over the […]

Yawning gap between pledges and delivery to Rana Plaza victims

Many Rana Plaza victims are yet to receive the promised compensation from the government and retailers, nine months after the […]